By Ramishah Maruf, CNN Business Elon Musk is going after Insider for publishing a story alleging he sexually harassed a flight attendant on a SpaceX corporate jet in 2016 — but the news outlet’s global editor-in-chief Nicholas Carlson is standing by his team’s reporting. Musk tweeted Friday that his company Tesla is building a “hardcore
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By Parija Kavilanz, CNN Business Industry insiders have long feared a situation just like this: American parents are desperately seeking adequate supply of formula for their infants during a nationwide shortage. The formula shortage has exposed an inflexible industry dominated by just three to four large players that own a majority of formula production in
Continue Reading By Parija Kavilanz, CNN Business Industry insiders have long feared a situation just like this: American parents are desperately seeking adequate supply of formula for their infants during a nationwide shortage. The formula shortage has exposed an inflexible industry dominated by just three to four large players that own a majority of formula production in
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By Peter Valdes-Dapena, CNN Business The new Nissan Z is one of the most important models in the car maker’s recent history — not for any concrete business reason (two-seat sports cars aren’t big sellers), but because even a car company needs a soul. Nissan’s been through some rough times in the past four or
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By Nicole Goodkind, CNN Business To badly misquote John Lennon: Everybody’s talking about inflation, stagflation, capitulation, globalization, stagnation, this-ation, that-ation, -ation, -ation, -ation. All we are saying is please make it end. Americans view inflation, which is near 40-year highs, as the top problem facing the country today by a very wide margin. No other
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By Frank Pallotta, CNN Business “Saturday Night Live” closed out its 47th season by saying goodbye to two of its most beloved cast members. On Saturday night’s episode, the NBC variety show bid adieu to Kate McKinnon and Pete Davidson in subtle, but emotional ways. The show first said goodbye to McKinnon by opening the
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By Julia Horowitz, CNN Business The last time top politicians, CEOs and billionaires gathered in a Swiss mountain village to discuss society’s biggest problems and pitch their solutions, the coronavirus outbreak in China was little more than a remote threat. The economy was humming, and a major armed conflict in Europe was on nobody’s list
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By Frank Pallotta, CNN Business “Saturday Night Live” closed out its 47th season by saying goodbye to two of its most beloved cast members. On Saturday night’s episode, the NBC variety show bid adieu to Kate McKinnon and Pete Davidson in subtle, but emotional ways. The show first said goodbye to McKinnon by opening the
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By Ramishah Maruf, CNN Georgia will be home to Hyundai’s first dedicated EV plant and battery manufacturing facility in the United States, the company announced Friday. Hyundai is investing almost $5.5 billion into the EV plant in Bryan County, Georgia, creating 8,100 new jobs. The plant expects to reach a capacity of 300,000 units a
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By Ramishah Maruf, CNN J.M. Smucker is recalling certain types of Jif peanut butter in the US because of a potential salmonella contamination. The company said that the peanut butter was sold nationwide and the recall includes more than 45 kinds of products. They have lot codes between 1274425 to 2140425, the company said in
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By Danielle Wiener-Bronner, CNN Business Believe it or not, people still order takeout using the phone. Applebee’s doesn’t want to take those calls anymore. It wants to outsource those orders to call centers, where a person or automated system will take your orders and also try to upsell you a little. More than half of
Continue Reading By Danielle Wiener-Bronner, CNN Business Believe it or not, people still order takeout using the phone. Applebee’s doesn’t want to take those calls anymore. It wants to outsource those orders to call centers, where a person or automated system will take your orders and also try to upsell you a little. More than half of
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By Anna Bahney, CNN Business The double punch of high home prices and rising mortgage rates took a toll on sales of newly constructed homes in April. New home sales fell by 16.6% in April from March and were down 26.9% from a year ago, according to a joint report from the US Department of
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By Gabe Cohen, CNN Business Nicosha Jones spent nearly a year trying to buy her first home. Jones, 48, planned to build equity by buying a home in the South Phoenix neighborhood where she grew up. Instead, she’s on the sidelines, facing skyrocketing rent and struggling to restart the process of looking for a place
Continue Reading Opinion by Børge Brende for CNN Business Perspectives The war in Ukraine, a challenging economic outlook, rising global temperatures and a once-in-a-century pandemic: These are more than a series of distinct crises. They amount to what appears to be the onset of a new global era — one that many fear will be defined by
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By Nathaniel Meyersohn, CNN Business It’s happened to just about everyone who’s bored in line waiting to check out at a store: You spot a candy bar, a pack of gum or a soft drink. Unable to resist, you throw it in your cart. This scene, repeated countless times every day at grocery and convenience
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By Paul R. La Monica, CNN Business Investors took a break from selling in May and going away, for one day at least. Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted sentiment on
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By Kathryn Vasel, CNN Business When it comes to salary negotiations, job candidates have a lot of leverage these days. “There are a number of economic factors that are relevant for thinking about salary negotiations right now,” said Linda Babcock, an economics professor at Carnegie Mellon University. Along with rising inflation, the nationwide labor shortage
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By Diksha Madhok, CNN Business India has decided to restrict the sale of sugar on international markets, just days after it banned wheat exports. In a statement on Wednesday, the Indian government said it will limit sugar exports to 10 million tons for the marketing season that runs through September to keep prices in check.
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By Matt Egan, CNN Business The stock market selloff hit pause Friday, but the Dow Jones Industrial Average couldn’t avoid its longest weekly losing streak in nearly a century. The Dow ended Friday nine points higher but finished the week down about 3%. This was its eighth-straight weekly loss, the longest weekly losing streak since
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